Approximately 1,500 of the jobs will be axed by the end of the year.
Chief executive Warren Easttold the BBC's Today programme that Rolls-Royce needed fewer layers of management: "We have too complex a management and support organisation and we need to simplify that so that we can remain competitive".
"Against the backdrop of costly Trent 1000 in-service issues and rising civil engine deliveries, we can see how it might stir a debate about whether the timing of this fundamental restructuring increases near-term risk", Reuters quoted him as saying. Rolls-Royce has a twelve month low of GBX 733.50 ($9.77) and a twelve month high of GBX 994.50 ($13.24).
About a third of those targeted were expected to leave by the end of 2018 with the program gaining momentum through 2019 and finishing mid-2020.
Donald Trump Wants "His People" To Treat Him Like Kim Jung
A united Korea with the North's nuclear weapons capability and the South's economic and technological prowess is a possibility . In late May, Trump abruptly called off the meeting after North Korea made hostile remarks through its state-run media outlet.
Rolls-Royce has traditionally operated a large corporate centre with overlapping activities between individual business units. A traditionally heavily centralised control culture will be replaced by empowered businesses, in a simpler, leaner structure with much clearer accountabilities. Rolls said the latest round of restructuring was expected to cost the group 500 million Pounds. It has amassed orders for over 2,700 aero engines for wide-body aircraft and business jets and is now undertaking its biggest ever increase in large engine production, targeting over 600 wide-body engines a year by the end of this decade. "We will continue to also pursue disciplined investment in our technologies, including in newer areas such as electrification and digitalisation".
But amid the cuts, Rolls Royce insisted it would honour its previous pledge not to impose compulsory redundancies on union-represented staff, including at three sites in the north of England. It would be reported as separate one-off costs, allowing the firm to stick to its targets for free cash flow.
"We are committed to eliminating this intermediate pressure compressor durability issue from the Trent 1000 fleet and we have already successfully run a redesigned Package C IPC in a development engine, " the manufacturer said.
Overall, Rolls has 55,000 employees worldwide, of whom 26,000 are in the United Kingdom, with 15,700 of those in Derby.
This is the largest reduction in the company's headcount since 2001, when it announced plans to reduce 5,000 jobs, plus 1,000 contractors, which at the time was around 12% of the workforce.
It is the latest retailer to shut stores amid hard conditions on the high street and a long-term shift to online shopping. Michelle Byrne, area organiser of the shop workers' union Usdaw, said the move was a "real shock for staff".
He was briefed on the report yesterday, but it may not have been exactly what he was hoping for. "No, he won't. And what's more, apparently he did so while the FBI was investigating Clinton for nearly the very same thing .
According to the station, the shooting took place around 11:15 a.m.in the area where police escort suspects into the courthouse. The building is used for juvenile court, but Blair says it is unknown whether the suspect is a juvenile or an adult.
Bourdain, 61, took his own life last week in France while working on an upcoming episode of his award-winning CNN series. The network confirmed Bourdain's death on Friday in a statement to Us, honoring his "love of great adventure".
What match are you most looking forward to next season, and which fixtures do you think will determine Spurs' 2018-19 fate? Manager Jurgen Klopp has done an impressive job of reestablishing Liverpool as a top-four Premier League side once again.
The suit , brought by Students for Fair Admissions, says Harvard imposes what is in effect a soft quota of "racial balancing". Friday's court filings followed a battle over a trove of Harvard data reviewed by lawyers earlier in the lawsuit.
Mental health should no longer be a taboo in the society but instead should be an open conversation that can save more lives. In the span of 15 years, 13 physicians - majority on faculty at the academic medical center - took their lives, she said .
Paul Sweeney, a Glasgow MP, said on Twitter: "Devastated that a major fire has broken out at the Glasgow School of Art tonight". The landmark building had been due to reopen next year after restoration.
The Atlas Lions started the game brightly with highly- rated Schalke youngster Amine Harit shooting wide from the edge of the box. There was an explosion of joy among the Iranian squad, with coaching staff and substitutes sprinting onto the field and jumping.
Kawhi Leonard wants Spurs to trade him
Of course, any time there's a player that could possibly be on the trading block the Boston Celtics have to get involved. A healthy Leonard is probably also one of the five best players in the National Basketball Association right now.
Saudi Arabia coach Pizzi not fearing sack
Putin and Infantino smiled and shrugged as they sat next to Saudi Crown Prince Mohammed bin Salman in the VIP box. This edition of the World Cup will be the most expensive in history, but also the most profitable.
China announces retaliation against $50B in USA goods
After talks in Beijing and Washington , a preliminary deal was struck that appeared to put the trade restrictions on hold . In April, the United States revealed an initial list targeting about 1300 products worth $US50 billion in Chinese imports.
Canelo-Golovkin 2 Official for September 15
Should the rematch not materialize, Canelo is likely to make his return against former WBA champion Daniel Jacobs . And boy, such was his power that one may mistake the sound of the punches for gun shots (excuse the hyperbole).